VICTOR ZARNOWITZ is one of the world's leading authorities on business cycles, business indicators, and forecast evaluation. He is Senior Fellow and Economic Counselor to the Conference Board. Dr. Zarnowitz is also Professor Emeritus of Economics and Finance, Graduate School of Business, The University of Chicago, and Research Associate, National Bureau of Economic Research. The recipient of many awards and honors, he is the author of Business Cycles: Theory, History, Indicators, and Forecasting.